Enterprise intelligence agency MicroStrategy added almost 9,000to its holdings within the third quarter, with a complete quantity on its stability sheet reaching 114,042 BTC as of September 30, 2021
With Bitcoin presently buying and selling at roughly $61,000, Microstrategy now holds a staggering $7 billion of the main cryptocurrency.
In line with MicroStrategy’s Q3 financial results printed on Thursday, the agency spent a complete of $3.160 billion to buy the Bitcoin it owns, with a median price of roughly $27,713 per coin.
MicroStrategy first started exploring Bitcoin as an funding in 2020, when the agency made its first $425 million buy. By the tip of the final yr, MicroStrategy’s Bitcoin holdings exceeded $1.125 billion.
In February this yr, the agency made the headlines once more when it bought a further 19,452 Bitcoin value $1.026 billion, growing its crypto holdings to roughly $4.5 billion.
Since then, MicroStrategy has been repeatedly including Bitcoin to its stability sheet, with CEO Michael Saylor, certainly one of Bitcoin’s most outspoken advocates, making it clear that the agency doesn’t plan to ever promote.
MicroStrategy Bitcoin investments additionally impressed institutional traders like Raoul Pal, and firms like Sq. and Tesla to observe in its footsteps.
In December final yr, Saylor publicly suggested Elon Musk to transform Tesla’s stability sheet into Bitcoin, suggesting that the transfer can be a “$100 billion greenback favor.”
Simply two months later, in February 2021, Tesla made its record-breaking $1.5 billion funding in Bitcoin.
Commenting on the most recent monetary outcomes, Saylor confused that MicroStrategy is now the world’s largest publicly traded company proprietor of Bitcoin and that it “will proceed to guage alternatives to lift extra capital to execute on our Bitcoin technique.”
Saylor additionally revealed on Thursday that he personally holds 17,732 Bitcoin (round $1.08 billion in present costs) which he purchased at $9,882 every on common.
Saylor added that he “knowledgeable MicroStrategy of those holdings earlier than the corporate determined to purchase Bitcoin for itself.”
The views and opinions expressed by the writer are for informational functions solely and don’t represent monetary, funding, or different recommendation.
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